Dollar hits fresh 15-year-low against yen – Yahoo! News

TOKYO – The dollar fell to a fresh 15-year-low against the yen in Tokyo on Thursday amid growing speculation that the U.S. Federal Reserve will ease monetary policy next month.

The U.S. currency was quoted at 81.07 yen briefly in late Thursday trading in Tokyo and was trading around 81.10 yen around 7:30 p.m. (1030 GMT; 6:30 a.m. EST).

Dollar-selling accelerated in Asia following Singapore’s surprise move to widen the trading band of the Singapore dollar. The island nation’s central bank, known as the Monetary Authority of Singapore, said Thursday that it will continue with a “modest and gradual” appreciation of the Singapore dollar.

The dollar’s continuing decline against the yen — nearing a post-World War II low of 79.75 yen set in 1995 — led the Bank of Japan to act last month to stem the yen’s rise by buying dollars — it’s first intervention in the currency market in six years.

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via Dollar hits fresh 15-year-low against yen – Yahoo! News.

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